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New Delhi, Credit Card bill payment platform <keyword id="16650447" type="General" weightage="20" keywordseo="cred-ceo" source="Orion">CRED CEO</keyword> <keyword id="192201" type="General" weightage="20" keywordseo="kunal-shah" source="Orion">Kunal Shah</keyword> has revealed his monthly salary, stating that he takes home Rs 15,000 per months and also gave a reason for it. He held an "Ask Me Anything" session on Instagram on Sunday where a user asked: "Your salary at CRED is so low? How do you survive?" Responding to the question, Shah said: "I don't believe I should get a good salary till the company is profitable. My salary at CRED is Rs 15,000 per month, and I can survive as I sold my company FreeCharge in the past." Moreover, a user on Twitter shared a screenshot of the story in which the CEO responded to the question. "There are CEOs who take salaries in crores, then we have Kunal Shah," the user wrote with the screenshot. Shah's response, on the other hand, appears to have divided the internet. While some applauded his decision, others said that it is simply a method to save tax. "Being humble and flexing in the same sentence. His words always poke me to be curious," a user commented. "Bro, it's called tax saving, He definitely spending millions on his lifestyle," another user said. "He's also an angel investor and has invested in over 500 startups. His angel investments will also be giving him income as when he exits from investments," commented another person.

CRED CEO Kunal Shah reveals his salary, takes Rs 15,000 monthly

Corporate expense management platform <keyword id="2738808" type="General" weightage="100" keywordseo="happay" source="Orion">Happay</keyword>, owned by credit <keyword id="6360117" type="General" weightage="50" keywordseo="card" source="Orion">Card</keyword> bill payment provider CRED, has slashed nearly 35 per cent of its workforce as part of a restructuring exercise, the media reported. According to leading startup news portal Inc42, at least 160 employees from departments like sales, marketing, tech, product, and operations, have been asked to go by the platform. According to the report, Happay is giving impacted employees three months salary along with an extension of insurance coverage and some other additional benefits. When reached, CRED did not immediately comment on layoffs at Happay, which it acquired in December 2021 in a cash and stock deal that valued Happay at $180 million. "With professional expenses forming a significant portion of credit card spends, bringing professional expense management into the CRED ecosystem is a natural extension of our proposition," <keyword id="192201" type="General" weightage="50" keywordseo="kunal-shah" source="Orion">Kunal Shah</keyword>, founder, CRED, had said in a statement during the acquisition. While Happay operated as a separate entity, the team worked closely with CRED leadership to leverage its ecosystem, build distribution, expand the product offering and drive scale. CRED last year acquired SaaS lending-as-a-service platform CreditVidya in a mix of cash and stock transaction for an undisclosed sum. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/fii-inflows-may-remain-consistent-in-may-with-turn-in-rate-cycle/articleshow/100234813.cms">FII inflows may remain consistent in May with turn in rate cycle</a> <a href="https://www.businessinsider.in/stock-market/news/fears-of-a-us-debt-default-are-mounting-as-the-deadline-to-lift-the-borrowing-limit-looms-heres-what-elon-musk-paul-krugman-and-jamie-dimon-have-warned-/articleshow/100229208.cms">Fears of a US debt default are mounting as the deadline to lift the borrowing limit looms. Here's what Elon Musk, Paul Krugman and Jamie Dimon have warned.</a> <a href="https://www.businessinsider.in/tech/news/heres-how-googles-new-ai-updates-will-transform-your-search-experience/articleshow/100242791.cms">Here’s how Google’s new AI updates will transform your search experience</a>

CRED-owned Happay lays off 35% of its workforce

The UK's new post-Brexit points-based visa and immigration system, described by the government as "simple, effective and flexible", opened for applications from Tuesday. The UK Home Office said applicants for the new <keyword id="302785" type="PERSON" weightage="20" keywordseo="skilled-worker">Skilled Worker</keyword> Visa can now apply to work and live in the UK from January 1, 2021, when the Brexit transition period ends to bring European Union (EU) migrants in line with non-EU countries, such as India. Under the new points-based immigration system unveiled earlier, points will be awarded for a job offer at the appropriate skill level, knowledge of English and being paid a minimum salary. "This government promised to end free movement, to take back control of our borders and to introduce a new points-based immigration system. Today, we have delivered on that promise," said Home Secretary Priti Patel. "This simple, effective and flexible system will ensure employers can recruit the skilled workers they need, whilst also encouraging employers to train and invest in the UK's workforce. We are also opening routes for those who have an exceptional talent or show exceptional promise in the fields of engineering, science, tech or culture," she said. People will normally need to be paid at least 25,600 pounds per year unless the "going rate" for that job in the wider economy is higher. Applications are made online, and as part of this, people will need to prove their identity and provide their documents. "Once someone outside the UK has gone through all these steps, they will usually get a decision within three weeks," <keyword id="4731590" type="COMPANY" weightage="20" keywordseo="the-home-office">the Home Office</keyword> said. Applicants will need to have enough money to cover the application fee will range between 610 pounds to 1,408 pounds, plus a healthcare surcharge (usually 624 pounds per year) and be able to support themselves (usually by having at least 1,270 pounds available). The Skilled Worker visa lasts for up to five years before it needs to be extended. Alongside the work visa, a number of other routes are also now open for applications, including Global Talent Visa, for people who can show they have exceptional talent or exceptional promise in the fields of science, engineering, humanities, medicine, digital technology or arts and culture. <keyword id="10362070" type="PERSON" weightage="20" keywordseo="an-innovator-visa">An Innovator Visa</keyword> will be open to those seeking to establish a business in the UK based on an innovative, viable and scalable business idea, a start-up visa for someone seeking to establish a business in the UK for the first time, and an Intra-company <keyword id="10361837" type="COMPANY" weightage="20" keywordseo="transfer-visa">Transfer Visa</keyword> for established workers who are being transferred by the business they work for to do a "skilled role" in the UK. <keyword id="10362069" type="COMPANY" weightage="20" keywordseo="the-student-route-and-child-student-route">The Student Route and Child Student Route</keyword> under the new system opened earlier, in October, to eligible international students for the next academic year. The Home Office said its new system will encourage employers to focus on training and investing in the UK workforce, driving productivity and improving opportunities for individuals, especially those impacted by the coronavirus pandemic. Indian industry and students' groups had broadly welcomed the new post-Brexit points-based regime unveiled by Patel earlier this year as a means to attract the "brightest and the best" from around the world. Under the system, workers from the EU will be at par with those from outside the economic bloc once its free movement of people rules stop applying to the UK at the end of the Brexit transition period on December 31. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/kunal-shah-cred-raises-80-million-valuation-doubles-to-800-million-for-the-just-two-year-old-startup/articleshow/79502864.cms">Kunal Shah’s CRED raises $80 million – valuation doubles to $800 million for the just two-year old startup</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-dr-reddys-indiabulls-housing-mm-tata-motors-bajaj-auto-maruti-hero-moto-pnb-and-others/articleshow/79502563.cms">Top stocks to watch — Dr Reddy’s, Indiabulls Housing, M&amp;M, Tata Motors, Bajaj Auto, Maruti, Hero Moto, PNB, and others</a>

New immigration rules: Visa applications open under UK's post-Brexit 'simple' points-based system

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CRED CEO Kunal Shah reveals his salary, takes Rs 15,000 monthly

IANS

CRED-owned Happay lays off 35% of its workforce

IANS

New immigration rules: Visa applications open under UK's post-Brexit 'simple' points-based system

PTI

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